In the discussion of correlation and causation, correlation means:
a. two sets of phenomena may be related, but one does not necessarily cause the other
b. two sets of phenomena are not related and one may in fact cause the other.
c. that when two phenomena are repeatedly observed together, one must cause the other.
d. that if a groundhog sees his shadow in February, this phenomena causes there to be six more weeks of bad weather.
a
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Nonactivists propose doing nothing in the face of economic hardship because ________
A) activist policies can kick in at the wrong time and be counterproductive B) "markets self-correct pretty rapidly anyway" C) in the face of high unemployment, activist policies would likely lead to surges in inflation D) all of the above E) none of the above
Given the scenario described, if the market price of hammers decreased from $15 to $11:
Assume there are three hardware stores, each willing to sell one standard model hammer in a given time period. House Depot can offer their hammer for a minimum of $7. Lace Hardware can offer the hammer for a minimum of $10. Bob's Hardware store can offer the hammer at a minimum price of $13.. A. total producer surplus would fall by $4. B. producer surplus for each producer falls by $4. C. House Depot's producer surplus falls by $4. D. total producer surplus falls by $8.
Monopolists are price ______.
a. makers b. takers c. followers d. ignorers
Research for industrially advanced countries indicates that:
A. the more independent the central bank, the lower the average annual rate of inflation. B. the more independent the central bank, the higher the average annual rate of inflation. C. there is no relationship between the degree of independence of a country's central bank A. the more independent the central bank, the lower the average annual rate of inflation. B. the more independent the central bank, the higher the average annual rate of inflation. C. there is no relationship between the degree of independence of a country's central bank